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AgEagle Aerial Systems Inc. (UAVS) stock declines in the after-market trading. Why is it so?

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AgEagle Aerial Systems Inc. (UAVS) stock surged by 14.32% at the last trading close whereas the UAVS stock price plunges by 3.83% in the after-market trading session, after the official announcement being made by Levi & Korsinsky that a securities class action lawsuit has been filed against UAVS. AgEagle’s focuses on high performance, next-level thought, and technical creativity, and it was among the few initiators in the delivery of advanced commercial drone technology, facilities, and solutions. Their goal is to create a completely new level for high-quality drone manufacturing in the United States.

What is happening?

On April 5, 2021, Levi & Korsinsky clarified that all individuals or organizations who purchased or acquired securities of UAVS between September 3, 2019, and February 18, 2021, should be aware that a securities class action lawsuit has been filed in the Central District of California by the United States District Court.

Defendants made false statements and failed to report the following during the class period, according to the complaint:

  • UAVS was not in any collaboration with Amazon in fact it never had any link with Amazon in the past as well.
  • About their partnership with Amazon, the defendants were conveniently supporting the rumor that they have a relationship with Amazon rather than clarifying the public about it.
  • As a consequence, at all relevant times, Defendants’ claims about AgEagle’s company, activities, and prospects were significantly under – represented, and lacked a fair basis.

The public has also been informed that anyone who hasfaced a loss in AgEagle can request the Court to appoint them as lead plaintiff till April 27, 2021. It is not necessary for you to be a lead plaintiff in order to share in any compensation.

Levi & Korsinsky;

With offices in New York, California, Connecticut, and Washington, D.C., Levi & Korsinsky is a nationally known company. The firm’s lawyers have considerable experience defending investors in securities cases and have helped shareholders recover hundreds of millions of dollars.

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